Bangkok Post
Cabinet approves B400-billion borrowing decree
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The cabinet on Tuesday approved an emergency decree to borrow 400 billion baht to alleviate cost of living pressures and support measures to reduce energy costs, Prime Minister Anutin Charnvirakul said.
Key facts
- The cabinet on Tuesday approved an emergency decree to borrow 400 billion baht to alleviate cost of living pressures and support measures to reduce energy costs, Prime Minister Anutin Charnvirakul said.
- The borrowing is necessary because higher energy prices will impact everyone, Finance Minister Ekniti Nitithanprapas said after a cabinet meeting.
- The sum approved is 100 billion baht less than the figure officials had been discussing earlier.
- Half of the borrowing will be targeted towards vulnerable groups and the other half will be used to help fund the transition away from fossil fuels and towards renewable energy.
- “We have to help vulnerable groups,” Mr Ekniti said, adding that the government would try to reduce living costs and push for clean energy use.
Summary
The borrowing is necessary because higher energy prices will impact everyone, Finance Minister Ekniti Nitithanprapas said after a cabinet meeting.
The sum approved is 100 billion baht less than the figure officials had been discussing earlier.